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20120601
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Search Results 0 to 17 of about 18 (some duplicates have been removed)
. and diane swonk, chief economist at mesirow financial, based in chicago. let me begin with diane swonk. fill out this report for us, this picture for us. whatre the numbersehind the numbers? >> well, it really was a dismal report. what we saw was a return of something that had been absent for a bit. and that was the gap between public and private sector employment. we had sort of seen the state and local sector, many people thought the cuts were behind them, and they wouldn't be the headwind that they were last year at this time when many teachers were being laid off. well, in this report we saw teachers again being laid off that counted for more than half of all the layoffs in the public sector were teachers at both the state level and local level. then we started to see postalorkersdisaear e feralevel so the private sector was sort of carrying the economy in the past. and then we had seen finally the public sector headwinds begin to abatement that now has reversed again. and that was consistent with something else we saw this week with gdp numbers showed that in fact instead of roycing in
to spur growth. erika miller, nbr, new york. >> diane swonk is the chief economist. the federal reserve's latest stimulus effort due to come to an end this month, interest rates at a historic low. what more can be done? >> well, you know, there's a big question on what more can be done and what it would do to the economy. i think the fed is going to keep its powered dry for the moment even though the economy is clearly weakening. what really is an issue for the fed is the need to do something perhaps intangent with what's going on with europe and maybe at the same time with europe. what we saw during the financial crise is decisions made together across the atlantic had much more powerful impact than they do alone. and so i think the fed will wait to see if we have a further deterioration in europe that's of a crisis magnitude, although we're getting awfully close. >> tom: diane, the cost of cash doesn't seem to be the problem here. it's not how much borrowing costs are right now. it's the demand for that as well as in europe, it's the liquidity, it's the turnover in the financial syste
the next couple minutes. before we get to will, diane swonk, chief economist at mesirow financial. why after seeing and feeling an economy that looked like it was chugging along quite nicely are we seeing this and the revisions of the last couple of mondays. what that weakened. >> a couple things are important. first, reduce the economy with unseasonably warm winter weather and had some payback to that these numbers go far beyond to payback of unseasonal wechlt they are weak. they are weak in a lot of areas we need to take note of. it is important, too, you noted the wedge between public and private sector employment. that had narrowed. many people had taken on with the first cut of gdp in the first quarter with local cut in the first sector rising this would not be the headwind. yesterday that dat ark was revised down, this week that data revised down. now we're showing state and local governments are continuing to cut the bulk of the public sector job losses were, again, teachers. on the federal level postal worker reduction in payrolls there. that's where we saw the rest of it. most
store, or call 855-878-4biz. [ chirp ] >>> we're joined by stephen moore and diane swonk and mohammed al arian. steve is going to make the argument for why you out there should not feel as pessimistic about the economy as you do. steve? >> i think there is too much doom and gloom herement fir. corporate balance sheets are so much better today than they were three or four years ago. that problems that corporations had, they're sitting on a lot of money, trillions dollars of money that is ready to be reinjected into the economy. second of all, i do think you're going to see a bipartisan agreement in 2013 to really fix the tax system on the personal side. >> really? >> i really do. consensus is coming that the tax system is now -- >> do you think that people in congress -- do you think they see things differently? we don't compromise. we don't go to the other side. >> i think that's going to change. i think we're going to sigh' ee reduction in the loopholes. one last thing, the energy future is so positive for the u.s. in the next 10 or 15 years, we could actually be exporting energy, oil a
was an easier way to cover up and stay in the middle class than income. >> diane swonk, thanks for coming in. >> thank you. >>> the u.s. fears russia is helping syria in a major league way right now carrying out a deadly new tactic, a firing on civilians and rebels from the air. plus, president obama's pressed to explain why voters should trust him. wait until you hear the hammering he got during some local tv interviews. >>> and a massive coast guard rescue operation turned out to be for nothing. now a reward is being offered to find out who was behind an apparent hoax. . our cloud is made of bedrock. concrete. and steel. our cloud is the smartest brains combating the latest security threats. it spans oceans, stretches continents. and is scalable as far as the mind can see. our cloud is the cloud other clouds look up to. welcome to the uppernet. focus lolo, focust sanya let's do this i am from baltimore south carolina... bloomington, california... austin, texas... we are all here to represent the country we love this is for everyone back home it's go time. across america, we're all committe
in diane swonk and stephen, chief economist. thanks to you both. i want to ask both of you first of all whether or not what the stock market does and expects, whether that matters. i ask that because right now sitting on top of a massive 1 a 11-day nasdaq. both have best four day gains for a long, long time. diane, does it matter what the fed does, in terms of what it does, does it matter what the market expects? >> actually i think the fed is trying to set the tone for market expectations. it's a question, is the cart before the horse or horse before the cart. i think the fed has set the tone through various speeches they are willing to do more. ben bernanke more cautious, laid out a detailed speech in early june on exactly what would precipitate additional moves. that's why the market is expecting at least an extension of the twist and maybe clarification on communication policy raer really matters what voters within fmoc, the central tendency of the fed, what the forecast is, not all the noise of the people at the table. >> steve, is the fed forced, because the fed is not forced to
Search Results 0 to 17 of about 18 (some duplicates have been removed)